Hundreds of investors in failed company Keydata may not get all their money returned to them, the Daily Mail reported.

This is because financial advisers recommended they put in more than the top limit paid out under the compensation scheme .

Keydata, which supplied complex investments, sold through independent financial advisers, sometimes advised savers to put huge sums into just one investment.

These investments were linked to returns on life assurance sold in the US.

However, those whose lives were insured have not been dying quickly enough and therefore the fund did not receive sufficient money.

Although as many as 20,000 savers may be able to claim compensation, some investors could lose out even if they are within the compensation limits if their claim is 'ineligible'.

Meanwhile, new research from Barclays Stockbrokers has suggested that while investment made by females is growing, they still lag behind their male counterparts.

The bank produced the research to mark the launch of the SmartWomen initiative, which is designed to encourage and inspire women to do more with their money.